Metal Bands Are Getting Government Assistance Under Trump
With Covid shutting down businesses and people losing their jobs, the Trump administration responded with a stimulus bill called the the Paycheck Protection Program that included millions of dollars dedicated to small business in dire need. The fund was targeted to help small businesses stay afloat during the economic downturn caused by the pandemic, and hopefully not layoff or fire more workers.
All said and done, more than 600,000 publicly listed companies benefited from the government assistance that handed out $660 billion in aid. Surprisingly, several musicians including metal bands are found on the recently released list of businesses that received help. Even more surprising is that many of the acts are vocal opponents of President Trump, though they had no problem taking full advantage of the government assistance.
The loans to hard rock and metal bands were discovered by the website Metalsucks, who did a search of the database for companies that had the word "touring" in their name. The common thing for a band to do is to create a business entity to protect assets. Most likely, more bands are on the list that used other name conventions for their business, and bands that received smaller loans.
To be listed on the report, a business needs to have received a minimum of $150,000 in aid. Though considered as a business loan, the Paycheck Protection Program assistance has an option to be forgiven if funds are used to keep staff at pre-pandemic levels. This essentially makes them a business grant.
To receive a loan, an application needed to be filed that listed the amount being sought and the intended use for the loan. Slipknot’s loan application stated the band would use the funds to retain 30 employees. Most bands intended to use the loans this way, as other bands stated the number of employees they were trying to retain: Green Day, 26; Nickelback, 17; Papa Roach, 8; Sammy Hagar, 22; and Tesla, 24.
The list doesn't give the exact amounts received, but rather the fund list recipients in loan group ranges. Most of the metal and rock recipients can be found in the lowest range of $150,000 to $350,000. Disturbed Touring Inc. is listed as having received the largest loan found, somewhere in the $350,000 and $1 million range, which it stated would be used to retain 17 employees,
Included on the PPP recipient list are Nickelback Touring, Red Rocker Touring (Sammy Hagar), Papa Roach Touring, Knot Touring LLC (Slipknot), Tool Touring Inc., Stoopid Touring Inc. (Slightly Stoopid), Tesla Touring Inc. (80's glam metal band), Weezer Touring Inc., Imagine Dragons Touring Inc., Sevendust Touring Inc., Pearl Jam Touring Inc., Skillet Touring LLC, Switchfoot Touring Inc., and Green Day Touring Inc.